Bank of Russia to enable pension payments in digital rubles.

Russians will be able to receive pensions in digital rubles if they are issued. In an interview with RTVI, Elvira Nabiullina, head of the Bank of Russia, said.

“Pensions — as people wish. They already, if they wish, receive cash, at the post office, into a bank account, or onto a card, if a card is linked to that account. In the same way [with the digital ruble], people will be able to choose,” Nabiullina said.

The head of the central bank stressed that the decision on issuing the digital ruble has not yet been made. Consultations are ongoing to assess the technological risks of the new asset and the potential benefits for business and citizens.

Nabiullina also reminded that the regulator does not consider Bitcoin a currency, because it is “private money for which no one is responsible”.

The Bank of Russia allowed the possibility of creating a digital ruble in October.

Testing of the asset could begin as early as the end of 2021.

Earlier, Oleg Shibanov, a professor at the Russian Economic School, said that the security of the digital ruble would be guaranteed by the Bank of Russia.

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